Gold Rises to Another Record as Dollar Drops; Silver Tops $22
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Gold futures rose to a record for the ninth time since mid-September as the slumping dollar boosted demand for the precious metal as an alternative investment. Silver reached the highest price since 1980.
In New York, gold reached an all-time high of $1,314.80 an ounce, and silver climbed above $22 an ounce. The greenback dropped to the lowest level since January against a basket of major currencies on bets the Federal Reserve will ease monetary policy further to bolster the slowing U.S. economy.